m & t bank corp (MTB) Key Developments
M&T Bank Corporation Announces Second Quarter Common Stock Dividend, Payable on June 30, 2015
May 19 15
M&T Bank Corporation announced that it has declared a quarterly cash dividend of $0.70 per share on its common stock. The dividend will be payable June 30, 2015 to shareholders of record at the close of business on June 1, 2015.
M&T Bank Corporation Announces Dividends on Series A and Series C Preferred Stock, Payable on May 15, 2015
Apr 22 15
M&T Bank Corporation announced that it has declared quarterly cash dividends of $15.9375 per share on each of its Series A and Series C preferred stock. The dividends will be payable May 15, 2015 to shareholders of record at the close of business on May 4, 2015.
M&T Bank Corporation Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter of 2015
Apr 20 15
M&T Bank Corporation announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, interest income was $738,087,000 compared with $722,952,000 a year ago. Net interest income was $659,588,000 compared with $656,433,000 a year ago. Income before income taxes was $375,416,000 compared with $354,306,000 a year ago. Net income was $241,613,000 compared with $229,017,000 a year ago. Net operating income was $245,776,000 compared with $235,162,000 a year ago. Net income available to common shareholders was $218,837,000 compared with $211,731,000 a year ago. Diluted earnings per common share were $1.65 compared with $1.61 a year ago. Diluted net operating earnings per common share were $1.68 compared with $1.66 a year ago. Return on average total assets was 1.02% compared to 1.07% a year ago. Return on average common shareholders' equity was 7.99% compared to 8.22% a year ago. Return on tangible common equity of 11.9%.
Net charge-offs of loans during the recent quarter aggregated $36 million, compared with $32 million in each of the first and fourth quarters of 2014.
M&T Bank Seeks Acquisitions
Apr 20 15
Rene Jones, Chief Financial Officer of M&T Bank Corporation (NYSE:MTB) said that the company is looking to acquire additional high-quality liquid assets to reach full compliance with the liquidity coverage ratio by end of the year or perhaps by the end of the third quarter.
M&T Bank Corporation Responds to Racial Discrimination Charges
Apr 14 15
M&T Bank Corp. has filed its official response to the racial discrimination lawsuit brought against the bank by a housing group based in New York City. M&T denies allegations that loan officers who work at the company's Park Avenue office deliberately withheld information about a first-time homebuyer program, saying it did not act with "discriminatory intent or malice." The bank is requesting dismissal of the lawsuit. Filed in February in Manhattan federal court, the charges were brought by the Fair Housing Justice Center, which in 2013 and 2014 employed nine women to pose as first-time homebuyers seeking residential mortgages from the bank. The group said that M&T concealed the nature of its Get Started loan program by not disclosing the program's racial criteria.